Ciena Co. (CIEN) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its holdings in Ciena Co. (NYSE:CIEN) by 18.7% in the 4th quarter, HoldingsChannel reports. The fund owned 3,191,619 shares of the communications equipment provider’s stock after selling 735,000 shares during the period. Dimensional Fund Advisors LP’s holdings in Ciena were worth $108,224,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Great West Life Assurance Co. Can raised its stake in shares of Ciena by 6.0% in the 4th quarter. Great West Life Assurance Co. Can now owns 89,826 shares of the communications equipment provider’s stock valued at $2,826,000 after acquiring an additional 5,097 shares in the last quarter. Northern Trust Corp raised its stake in shares of Ciena by 14.3% in the 4th quarter. Northern Trust Corp now owns 3,082,792 shares of the communications equipment provider’s stock valued at $104,538,000 after acquiring an additional 384,973 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Ciena by 604.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 45,074 shares of the communications equipment provider’s stock valued at $1,531,000 after acquiring an additional 38,677 shares in the last quarter. Wellington Shields Capital Management LLC raised its stake in shares of Ciena by 491.0% in the 4th quarter. Wellington Shields Capital Management LLC now owns 52,600 shares of the communications equipment provider’s stock valued at $1,784,000 after acquiring an additional 43,700 shares in the last quarter. Finally, Advisor Group Inc. grew its holdings in Ciena by 3.6% in the 4th quarter. Advisor Group Inc. now owns 12,838 shares of the communications equipment provider’s stock valued at $436,000 after buying an additional 444 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:CIEN opened at $33.30 on Thursday. Ciena Co. has a 1-year low of $22.99 and a 1-year high of $45.70. The company has a market cap of $5.16 billion, a PE ratio of 29.73, a PEG ratio of 1.29 and a beta of 1.02. The company has a current ratio of 2.98, a quick ratio of 2.52 and a debt-to-equity ratio of 0.33.



Ciena (NYSE:CIEN) last announced its quarterly earnings data on Tuesday, March 5th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.06. Ciena had a return on equity of 10.73% and a net margin of 5.03%. The company had revenue of $778.53 million for the quarter, compared to analyst estimates of $761.62 million. During the same quarter last year, the firm earned $0.15 EPS. Ciena’s revenue for the quarter was up 20.5% compared to the same quarter last year. Research analysts expect that Ciena Co. will post 1.53 EPS for the current year.

CIEN has been the topic of a number of research analyst reports. Nomura raised their target price on Ciena from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. ValuEngine raised Ciena from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 22nd. Bank of America lowered Ciena from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Wednesday, January 30th. They noted that the move was a valuation call. Jefferies Financial Group raised their target price on Ciena from $42.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, January 22nd. Finally, JPMorgan Chase & Co. lowered Ciena from a “neutral” rating to an “underweight” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $42.13.

In related news, SVP Jason Phipps sold 1,022 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $38.26, for a total value of $39,101.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Scott Mcfeely sold 1,000 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $39.97, for a total value of $39,970.00. The disclosure for this sale can be found here. Insiders have sold a total of 217,774 shares of company stock worth $8,505,759 in the last three months. 1.20% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: This story was first published by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://dakotafinancialnews.com/2019/05/16/ciena-co-cien-shares-sold-by-dimensional-fund-advisors-lp.html.

Ciena Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

See Also: Earnings Per Share (EPS)

Want to see what other hedge funds are holding CIEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ciena Co. (NYSE:CIEN).

Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.